- Sun Pharma gets exclusive global license for CSIR-IICT’s patents related to certain compounds with potential therapeutic activity across multiple indications
- CSIR-IICT to get upfront plus milestone payments and royalties on net sales
Mumbai, India August 14, 2019 – Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, “Sun Pharma” and includes its subsidiaries and/or associate companies) today announced that it has entered into a global licensing agreement with the CSIR Indian Institute of Chemical Technology, Hyderabad (CSIR-IICT), for patents related to certain compounds with potential therapeutic activity across multiple indications in Sun Pharma’s specialty focus areas.
Under the terms of the license agreement, Sun Pharma gets exclusive global license for the said patents and any other future patents covered in the agreement. Sun Pharma will pay CSIR-IICT upfront and potential development, regulatory and sales milestone payments totaling up to Rs.2.40 billion, plus royalties on net sales from commercialization of the products developed using these patents. Sun Pharma will be responsible for development, regulatory filings, manufacturing and commercialization of these potential products.
Dilip Shanghvi, Managing Director, Sun Pharma said, “This collaboration with CSIR-IICT for developing new drugs is part of our broader strategy for enhancing our global specialty pipeline. CSIR-IICT is well-known for its high quality research and we are proud to be associated with them. We are making earnest efforts to bring innovations from Indian research institutes to the market to address the unmet needs of patients globally. Our collaboration with CSIR-IICT is a step in this direction.”
This agreement will facilitate addition of pre-clinical candidates to Sun Pharma’s global specialty pipeline. A successful clinical development of these potential compounds may enable Sun Pharma to commercialize pharmaceutical products for various therapeutic indications over the long term.
Statements in this “Document” describing the Company’s objectives, projections, estimates, expectations, plans or predictions or industry conditions or events may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results, performance or achievements could differ materially from those expressed or implied.